MIRA
INFORM REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LOXIM INDUSTRIES LIMITED (w.e.f. 15.04.2008) |
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|
|
|
Formerly Known
As : |
LOXIM INDUSTRIES PRIVATE LIMITED (w.e.f. 13.08.2006) LOXIM COLORS PRIVATE LIMITED |
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Registered
Office : |
803, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.08.2003 |
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|
|
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Com. Reg. No.: |
04-042820 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.73.580
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24114GJ2003PLC042820 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00584D |
|
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|
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PAN No.: [Permanent Account No.] |
AAACL9043M |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Dyestuff, Thermoplastic Compounds, Alloys and Optical
Brighteners. |
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|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 750000 |
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. As per registrar of companies the date of balance sheet (i.e.
financial file) is shown as 31.03.2014 but the document related to the financial
are not available from any source. As per available financial record of 2013, the rating takes into
consideration extensive experience of the promoters in the dyestuff and
polymer business supported by sound financial risk profile and fair profitability
levels of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of Investigation
books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB (Long Term Rating) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligations. |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
Having minimal degree of safety and carry very high credit risk and
are susceptible to default. |
|
Date |
June 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management non-cooperative (Tel. No.: 91-79-30800000)
LOCATIONS
|
Registered Office/ Head
Office and SBU - Dyes : |
803, |
|
Tel. No.: |
91-79-30800000/ 26404727 |
|
Tel. No.: |
91-7377525313 ( Mr. Jaimin) |
|
Fax No.: |
91-79-26467488/ 30800001 |
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E-Mail : |
info@loxim.com (Corporate) dyes@loxim.com (SBU: Dyes) |
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Website : |
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Unit I : |
185/ 2, Opposite Gujarat Refectories, IYAVA, Vasna, |
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|
SBU – Polymers/
Unit II : |
Plot No. 184, Sanand-Viramgam Highway, IYAVA Village,
Sanand, District Ahmedabad – 382 110, Gujarat, India |
|
Tel. No.: |
91-2717-308000 |
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Fax No.: |
91-2717-308001 |
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E-Mail : |
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Unit III : |
Plot No.105/ 109-A, |
DIRECTORS
AS ON 08.09.2014
|
Name : |
Mr. Canon Jayprakash Patel |
|
Designation : |
Managing Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380 054, |
|
Date of Birth/Age : |
06.11.1974 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AAWPP0924A |
|
DIN No.: |
00078065 |
|
|
|
|
Name : |
Ms. Falguni Canon Patel |
|
Designation : |
Additional Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380 054, |
|
Date of Birth/Age : |
20.06.1978 |
|
Date of Appointment : |
29.09.2008 |
|
PAN No.: |
ACOPS3488J |
|
DIN No.: |
00078102 |
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|
|
|
Name : |
Mr. Jayprakash Maneklal Patel |
|
Designation : |
Chairman cum Chief Executive Officer |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380 054, |
|
Date of Birth/Age : |
09.02.1948 |
|
Date of Appointment : |
01.04.2012 |
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PAN No.: |
ABCPP1959N |
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DIN No.: |
00256790 |
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|
|
|
Name : |
Mr. Jayesh Pravinchandra Mehta |
|
Designation : |
Additional Director |
|
Address : |
C/33, Satellite Apartments, |
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Date of Birth/Age : |
18.08.1967 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
02140233 |
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|
|
|
Name : |
Mr. Madan Mohan Biswal |
|
Designation : |
Whole-time director |
|
Address : |
401, Sneh Srushti, Sambhav Press Road, Judges Bung lows Road, Ahmedabad, 380015, Gujarat, India |
|
Date of Birth/Age : |
21.09.1963 |
|
Date of Appointment : |
01.11.2012 |
|
Date of Cessation : |
16.01.2014 |
|
PAN No.: |
ABDPB5306Q |
|
DIN No.: |
06415835 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra P Shah |
|
Designation : |
Secretary |
|
Address : |
A/1, Shamwi Apartment, 140, Sardar Patel Colony, Ahmedabad-380014, Gujarat, India |
|
Date of Birth/Age : |
20.08.1951 |
|
Date of Appointment : |
16.05.2011 |
|
PAN No.: |
ANVPS7137A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Canon Patel |
|
2464730 |
|
Falguni Patel |
|
1214070 |
|
Jayprakash Patel |
|
2464730 |
|
Hina Patel |
|
1214070 |
|
Surendra Patel |
|
100 |
|
Dinesh Chandra Patel |
|
100 |
|
Girish Shah |
|
100 |
|
Jayesh Mehta |
|
100 |
|
Total |
|
7358000 |
AS ON 08.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dyestuff, Thermoplastic Compounds, Alloys and Optical
Brighteners. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information Decline by the management |
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Bankers : |
Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303 / 304, "Milestone", Nr. Drive - in - Cinema, Opposite T.V. Toweer, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
PAN No.: |
AAGFD1279G |
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|
|
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Associates : |
Dye-O-Print(Guj) Private Limited CIN No.: U24231GJ1984PTC006946 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,358,000 |
Equity Shares |
Rs.10/- each |
Rs.73.580
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
73.580 |
73.580 |
73.580 |
|
(b) Reserves & Surplus |
114.039 |
80.862 |
78.074 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
187.619 |
154.442 |
151.654 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
167.047 |
199.054 |
216.431 |
|
(b) Deferred tax liabilities (Net) |
25.028 |
28.731 |
20.443 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.324 |
0.963 |
0.787 |
|
Total Non-current Liabilities (3) |
193.399 |
228.748 |
237.661 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
318.917 |
170.583 |
113.486 |
|
(b) Trade payables |
108.549 |
86.871 |
75.479 |
|
(c) Other current
liabilities |
55.733 |
69.241 |
63.450 |
|
(d) Short-term provisions |
0.255 |
1.349 |
18.259 |
|
Total Current Liabilities (4) |
483.454 |
328.044 |
270.674 |
|
|
|
|
|
|
TOTAL |
864.472 |
711.234 |
659.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
269.150 |
280.370 |
251.017 |
|
(ii) Intangible Assets |
0.479 |
0.460 |
0.165 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
12.100 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.006 |
0.006 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
59.321 |
50.876 |
42.300 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.877 |
|
Total Non-Current Assets |
328.951 |
331.712 |
306.465 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
148.116 |
133.810 |
144.133 |
|
(c) Trade receivables |
316.944 |
177.483 |
125.924 |
|
(d) Cash and cash
equivalents |
42.059 |
38.978 |
38.694 |
|
(e) Short-term loans and
advances |
12.420 |
12.294 |
18.487 |
|
(f) Other current assets |
15.982 |
16.957 |
26.286 |
|
Total Current Assets |
535.521 |
379.522 |
353.524 |
|
|
|
|
|
|
TOTAL |
864.472 |
711.234 |
659.989 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
813.800 |
645.156 |
719.407 |
|
|
|
Other Income |
5.027 |
3.310 |
3.193 |
|
|
|
TOTAL (A) |
818.827 |
648.466 |
722.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
564.943 |
438.780 |
450.339 |
|
|
|
Purchases of stock-in-trade |
1.070 |
0.000 |
26.142 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(4.843) |
(9.017) |
4.018 |
|
|
|
Employee benefit expense |
44.156 |
40.135 |
29.090 |
|
|
|
Other expenses |
133.812 |
120.633 |
131.528 |
|
|
|
TOTAL (B) |
739.138 |
590.531 |
641.117 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
79.689 |
57.935 |
81.483 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.758 |
33.377 |
16.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.931 |
24.558 |
64.505 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.777 |
15.063 |
13.212 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
30.154 |
9.495 |
51.293 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.510) |
2.595 |
6.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
31.664 |
6.900 |
44.624 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
84.974 |
78.074 |
33.450 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
116.638 |
84.974 |
78.074 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.30 |
0.94 |
3.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.87
|
1.06 |
6.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.71
|
1.47 |
7.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.49
|
1.34 |
7.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.06 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59
|
2.39 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.16 |
1.31 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
73.580 |
73.580 |
73.580 |
|
Reserves & Surplus |
78.074 |
80.862 |
114.039 |
|
Net
worth |
151.654 |
154.442 |
187.619 |
|
|
|
|
|
|
long-term borrowings |
216.431 |
199.054 |
167.047 |
|
Short term borrowings |
113.486 |
170.583 |
318.917 |
|
Total
borrowings |
329.917 |
369.637 |
485.964 |
|
Debt/Equity
ratio |
2.175 |
2.393 |
2.590 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
719.407 |
645.156 |
813.800 |
|
|
|
(10.321) |
26.140 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
719.407 |
645.156 |
813.800 |
|
Profit After Tax |
44.624 |
6.900 |
31.664 |
|
|
6.20% |
1.07% |
3.89% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm / promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
------- |
|
26] |
Buyer visit details |
-------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2013 (Rs.
In Millions) |
As
on 31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Foreign currency term loans from banks |
10.023 |
0.000 |
|
Loans and advances from related parties |
150.751 |
159.562 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
10.022 |
0.000 |
|
Other loans and advances |
0.000 |
0.019 |
|
Total |
170.796 |
159.581 |
OPERATION
The total income of the Company is Rs. 818.827 Millions, as compared to last year's income of Rs. 648.466 Millions, which shows increase of more than 26% over last year. Profit before depreciation and interest stood at Rs. 79.689 Millions as against last year of Rs. 57.935 Millions. The Net profit after tax stood at Rs. 31.664 Millions as compared to last year's of Rs. 6.900 Millions. Overall the performance of the Company is good, considering the general market scenario in India as well as other parts of the World.
FUTURE PROSPECTS
There is an overall volatility in global economy, owing to which the Directors feel that being vigilant is the need of the hour. Consolidation in working will ensure a better future standing of the Company. At the same time, exploring new, small but niche markets will be of prime importance this year.
Dyes unit of the Company is going good, both at export front as well as in domestic market, due to change of strategy of different product mix, as started in last year. Since the automobile sector is not doing good, the sales of Polymer division are bound to effect on profitability. However, in current year, more focus will be given to this unit to achieve good turnover. The focus on plastics will continue enabling stability in both turnover and profitability.
CORPORATE INFORMATION
Loxim Industries Private Limited was incorporated in 2003 and convertd into Loxim Industries Limited in 2007. Presently, the company has two manufacturing units. The dyestuff unit, located at Padra (Gujarat) which is a 100% Export Oriented Unit (EOU). The polymer and optical brightener units are located at Sanand (Gujarat).
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10515266 |
26/06/2014 |
9,500,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C16643991 |
|
2 |
10442999 |
07/08/2013 |
10,000,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B82096066 |
|
3 |
10432133 |
06/06/2013 |
685,335.00 |
AXIS BANK
LIMITED |
RAC AHMEDABAD,
CV/ CE DEPARTMENT, 4TH FLOOR, SHIV |
B77531515 |
|
4 |
10369847 |
02/12/2013 * |
250,000,000.00 |
STATE BANK OF
INDIA |
MADHUPURA
BRANCH,, ADANI MARKET, AHMEDABAD, GUJAR |
B94204419 |
|
5 |
10246970 |
22/10/2010 |
220,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
A97340731 |
|
6 |
10246892 |
08/09/2010 |
200,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
A97130793 |
|
7 |
10128031 |
21/01/2014 * |
159,900,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B95355657 |
|
8 |
10152242 |
25/08/2014 * |
211,900,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW G |
C20804670 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Laboratory
Equipments
- Furniture
- Office
Equipments
- Vehicles
- Communication
Equipments
- Computer
- Air
Conditioner
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.81 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.